Budget 2020-21 LIVE Updates: Govt to Increase Fish Production to 200 Lakh Tonnes

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Budget 2020 LIVE Updates: Govt to Increase Fish Production to 200 Lakh Tonnes

G Plus News | February 01, 2020 11:49 hrs

While presenting the union budget 2020-21, Nirmala Sitharaman on Saturday said that the government is targeting to increase fish production to 200 lakh tonnes.

The government will also planning to involve youth in fishery production extension work. They will be called ‘sagar mitras’. For this, rural youths in coastal areas are being targeted under this.

> FM Nirmala Sitharaman: We have estimated nominal growth of GDP for the year 2020-21 on the trends available, at 10%.

> FM Nirmala Sitharaman: In the proposed regime, those with income between Rs 7.5-10 lakhs can pay tax at 15% against the current 20%. Those with income between Rs 10-12.5 lakhs can pay tax at 20% against 30%

> FM Nirmala Sitharaman: In this new personal income tax regime, income tax rates will be significantly reduced for the individuals who forgo certain exemptions and deductions

> FM Nirmala Sitharaman: Start-ups are engine of growth. Propose to increase turnover limit for startups from Rs 25 crores to 100 crores. 

> FM Nirmala Sitharaman: A  person earning Rs 15 lakh per annum and not availing any deductions will now pay Rs 1.95 lakh tax in place of Rs 2.73 lakh

> FM Nirmala Sitharaman: Around 70 of more than 100 income tax deductions and exemptions have been removed, in order to simplify tax system and lower tax rates

> FM Nirmala Sitharaman: Those with income between Rs 7.5-10 lakhs to pay tax at 15% against current 20%. Those with income between Rs 10-12.5 lakhs to pay tax at 20% against 30%

> FM Nirmala Sitharaman: Rs 27,300 cr for industry, commerce development

> FM Nirmala Sitharaman: We propose to bring a personal income tax regime, where income tax rates will be reduced, so now, person earning between Rs 5-7.5 lakhs will be required to pay tax at 10% against current 20%.

> FM Nirmala Sitharaman: Mechanism will be made to address liquidity constraints of NBFCs and Hosue finance corporations. Govt to offer support by guaranteeing securities floated to provide liquidity for NBFCs

> FM Nirmala Sitharaman: Government proposes to sell a part of its holding in LIC by initial public offer.

> FM Nirmala Sitharaman: We estimate a fiscal deficit of 3.8% in RE 2019-20 and 3.5% for PE 2020-21 

> FM Nirmala Sitharaman: Clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air. Allocation for this purpose is Rs 4,400 crores.

> FM Nirmala Sitharaman: I propose to provide Rs 2500 crores for promotion of tourism in the year 2020-21

> FM Nirmala Sitharaman: 85,000 crore rupees for Scheduled Castes and Other Backward Classes in 2020-21; 53,700 crore rupees for Scheduled Tribes.

> FM Nirmala Sitharaman:  Indian Institute of Heritage and Culture to be established under Ministry of Culture.

> FM Nirmala Sitharaman: 5 archaeological sites to be developed as iconic sites with on-site museums -Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur

> FM Nirmala Sitharaman: 'Beti bachao, beti padhao' has yielded tremendous results, gross enrolment ratio of girls across all levels of education now higher than boys.

> FM Nirmala Sitharaman: Over 6 lakh Anganwadi workers are equipped with smartphones to upload nutritional status of more than 10 crore households

> FM Nirmala Sitharaman: Rs 3.6 lakh crore approved for Jal Jeevan Mission

> FM Nirmala Sitharaman: I propose to provide Rs 35600 crores for nutrition related programmes for 2020-21. 

> FM Nirmala Sitharaman: Enhance allocation of Rs 9500 crores for senior citizens and 'Divyang'.

> FM Nirmala Sitharaman: IND-SAT exam to provide scholarship to Asian, African students to study in India

> FM Nirmala Sitharaman: Setting up large solar panel capacity alongside the railway tracks on land owned by railways, a proposal is under consideration. More Tejas type trains will connect iconic destinations.

> FM Nirmala Sitharaman: 100 more airports to be developed by 2024 to support Udaan scheme

> FM Nirmala Sitharaman: I propose to provide Rs 1.7 lakh crores for transport infrastructure in 2020-21.

> FM Nirmala Sitharaman: I propose to provide Rs 22000 crores to power and renewable energy sector in 2020-21

> FM Nirmala Sitharaman: Will achieve seamless delivery of services through digital governance: Sitharaman

> FM Nirmala Sitharaman: High-speed train between Mumbai and Ahmedabad will be actively pursued

> FM Nirmala Sitharaman: To soon bring out  a policy to enable private sector to build Data Centre Parks in the country

> FM Nirmala Sitharaman: I propose to provide Rs 27300 crore for development for industry and commence for year 2020-21

> Nirmala Sitharaman said this Budget will Boost Income and Purchasing Power.

> FM Nirmala Sitharaman: A degree-level full-fledged online education programme to be offered by institutes in top 100 in National Institutional Ranking Framework 

> FM Nirmala Sitharaman: Our government is proposing comprehensive measures for 100 water-stressed districts.

> FM Nirmala Sitharaman: Allocation of Rs 12,300 crores for Swachh Bharat Mission for year 2020-21.

> FM Nirmala Sitharaman: There is a shortage of qualified medical doctors both general practitioners and specialists; it is proposed to attach a medical college to a district hospital in PPP mode; details of the scheme to be worked out soon.

> FM Nirmala Sitharaman: We propose Rs 99300 crores for education sector in 2020-21 and Rs 3000 crores for skill development.

> FM Nirmala Sitharaman: The Delhi-Mumbai Expressway will be completed by 2023

> FM Nirmala Sitharaman: Government is fully committed to supporting new UTs of J&K and Ladakh; Allocation of Rs 30,757 crores for 2020-21 for Jammu and Kashmir and Rs 5,958 crores for Ladakh
> FM Nirmala Sitharaman: Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh

> FM Nirmala Sitharaman: Govt to further ease process of allotment of PAN. Govt to launch system for instant allotment of PAN on basis of Aadhaar

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